I&M Bank Rwanda reported a 62 per cent year-on-year increase in profit after tax to Rwf18.8 billion in the first half of 2026, as strong lending, deposit growth and increased digital transactions supported its financial performance.
This is according to the bank's financial results for the six months ended June 30, released on August 24. The results show that its net operating income rose 40 per cent year on year to Rwf49.1 billion, while net interest income grew 31 per cent, supported by loan-book expansion, stronger customer funding and treasury and liquidity management.
The Bank's growing digital and payments ecosystem is also creating greater potential for transaction-led revenues and deeper customer engagement with net fees and commission income increasing by 15 per cent.
Its balance sheet also expanded, with total assets increasing 23 per cent year to date to Rwf1.3 trillion, while net loans grew 31 per cent to Rwf638.4 billion.
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Customer deposits increased 25 per cent year to date, providing the funding base for the bank's expansion in lending.
The bank said the performance came against a backdrop of continued economic growth, supported by investment, domestic demand and expanding services, industry and construction, although rising inflation and external pressures required continued policy and business discipline.
Profit growth, it said, reflected stronger earnings conversion across its core business, deeper customer engagement and diversification of revenue-generating activities.
Operating expenses rose 22 per cent as the bank invested in technology infrastructure, talent, customer experience and expanded branch distribution.
These investments are designed to increase the Bank's capacity, improve productivity and create operating leverage as customer volumes and digital usage scale, the bank stated.
Digital expansion
I&M Bank said it continued to deepen customer engagement through digital channels, supported by its "Tsinda na Banki Muhorana" campaign, a 360-degree digital engagement programme aimed at increasing adoption and frequency of use of its online banking platforms.
The bank also highlighted the launch of eKash, which enables customers to transfer amounts below Rwf10 million instantly across local banks, MTN MoMo and Airtel Money.
The service is expected to strengthen the bank's transaction-banking proposition by making interbank and wallet-to-bank transfers easier.
Expanding access to finance and strengthening growth
I&M Bank also expanded its physical distribution network through the opening of the Rubavu Outlet and Gisozi Branch, while launching its first agency banking service to extend access to underserved and unbanked customers.
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The bank said its Berwa proposition, which combines financial and non-financial solutions, is also supporting women-led businesses and creating new growth opportunities.
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The bank said its balance sheet remained diversified, supported by lending and investment in high-quality sovereign and development finance institution securities, which provides liquidity and flexibility to deploy capital across lending and investment opportunities.
CEO reflects on performance, outlines growth priorities and outlook
Commenting on the first-half performance, I&M Bank Rwanda CEO Benjamin Mutimura said the bank had recorded growth across key areas of its business while maintaining a strong capital and liquidity position.
"We delivered strong growth across profitability, lending, deposits and total assets, supported by the trust of our customers and the commitment of our people," he said.
"Strong loan growth reflects our deliberate deployment of the balance sheet to meet the financing needs of businesses, institutions and households, while continued deposit growth demonstrates the depth of our customer relationships and the strength of our funding franchise."
He pointed out that the bank's performance in the first half of 2026 was further supported by customer-franchise deepening and digital and distribution-led expansion. He indicated that investments in agency banking, new branches, digital platforms, instant payments and targeted propositions are broadening its reach, increasing customer engagement and strengthening the foundation for sustainable growth.
"We continue to maintain a strong capital and liquidity position and disciplined approach to risk. These capabilities position us to scale responsibly and capture emerging opportunities," he stated.
"Looking ahead, our priority is to convert Rwanda's continued economic transformation into sustainable opportunities for our customers and the Bank. We will remain focused on selective balance-sheet deployment, deeper participation in growing sectors, and scaling digital and transaction-led solutions that make banking more accessible and relevant."
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The bank said it expects continued economic transformation to create opportunities for lending, payments and other financial services, while maintaining a disciplined approach to risk and balance-sheet deployment.
About I&M Bank (Rwanda) Plc
Incorporated in 1963, I&M Bank (Rwanda) Plc holds the distinction of being the oldest bank in Rwanda. Over the decades, it has grown to become one of the industry's prominent players, boasting a strong presence across the nation.
With a comprehensive portfolio of personal, business, institutional, and corporate banking products available at its various locations, I&M Bank Rwanda caters to a diverse range of customer needs.
The Bank is a subsidiary of I&M Group PLC, a leading regional financial services group in Eastern Africa with a presence in Kenya, Tanzania, and Uganda, and a joint venture with CIEL Group (Bank One) in Mauritius.
